{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Retirement With/On Purpose","title":"Understanding Annuities: A Guide to the Basics","html":"","width":"100%","height":180,"duration":816,"description":"In the first part of a series on annuities, host Trevor Lawson aims to demystify this often misunderstood financial instrument. Drawing on insights from a Morningstar article, he defines a basic annuity as a contract with an insurance company where a lump sum of money is given in exchange for a stream of income over a lifetime. Trevor explains that annuities are gaining favor as a replacement for pensions, which are becoming a thing of the past, because they provide a guaranteed income that can help cover basic living expenses, regardless of market fluctuations. He also differentiates between various types of annuities, including deferred annuities, variable annuities, fixed-indexed annuities, and registered index-linked annuities, and discusses their tax implications, noting that gains are tax-deferred but taxed as ordinary income upon withdrawal. He concludes by advising listeners to consult a fiduciary and check the financial strength ratings of the insurance company before investing.Reference: https://www.morningstar.com/retirement/what-you-need-know-about-annuitiesSecurities and investment advisory services offered through Osaic Wealth, Inc. member FINRA/SIPC. Osaic Wealth is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic Wealth. Branch phone: 919-546-0400.","thumbnail_url":"https://img.transistorcdn.com/vKna79w3BQjEGyG1s9dlAWQLqj8QEhgMGrDFaqL9OXg/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9jZjUz/YzFiZTQ3MmQwM2Rh/ODdkZWVjM2Q2MWI2/M2M5Yi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}